https://www.taxtmi.com/caselaws?id=456760 The Tribunal dismissed the appeal, affirming the disallowance of deduction under section 80P(2)(d) of the Income Tax Act for interest income from Cooperative Banks. This decision was based on established legal interpretations and precedents, despite allowing a deduction under section 80P(2)(a)(i) concerning the principle of mutuality. The Tribunal upheld the CIT(A)'s decision, emphasizing the distinction between interest from Cooperative Banks and Cooperative Societies, thereby denying the deduction for such interest income. en-us Mon, 18 Dec 2023 00:00:00 +0530 Mon, 12 Aug 2024 20:08:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456760 The Tribunal dismissed the appeal, affirming the disallowance of deduction under section 80P(2)(d) of the Income Tax Act for interest income from Cooperative Banks. This decision was based on established legal interpretations and precedents, despite allowing a deduction under section 80P(2)(a)(i) concerning the principle of mutuality. The Tribunal upheld the CIT(A)'s decision, emphasizing the distinction between interest from Cooperative Banks and Cooperative Societies, thereby denying the deduction for such interest income. Case-Laws Income Tax Mon, 18 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456760